{"data":{"id":"us-nm/42-5a-11","jurisdiction":"us-nm","citation":"42-5A-11","heading":"Report of open-market sale.","body":"A. Unless required to do so within a shorter time by Chapter 42, Article 5 NMSA 1978, a broker appointed under Subsection B of Section 10 [42-5A-10 NMSA 1978] of the Uniform Partition of Heirs Property Act to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under Section 6 [42-5A-6 NMSA 1978] or 10 of the Uniform Partition of Heirs Property Act.\nB. The report required by Subsection A of this section shall contain the following information:\n(1) a description of the property to be sold to each buyer;\n(2) the name of each buyer;\n(3) the proposed purchase price;\n(4) the terms and conditions of the proposed sale, including the terms of any owner financing;\n(5) the amounts to be paid to lienholders;\n(6) a statement of contractual or other arrangements or conditions of the broker's commission; and\n(7) other material facts relevant to the sale.","path":["Chapter 42 - Actions and Proceedings Relating to Property","ARTICLE 5A Uniform Partition of Heirs Property"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18542/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"c2cace5c5a828c93b3d2087a64967438b22439cc61360ab91981981556c5c3cb","source_id":"us-nm","stale":false,"prev":"us-nm/42-5a-10","next":"us-nm/42-5a-12"},"notice":"GroundRules: Original legal text. Not legal advice."}